How to compress png image in c#

private void VaryQualityLevel()
{
    // Get a bitmap.
    Bitmap bmp1 = new Bitmap(@"c:\TestPhoto.jpg");
    ImageCodecInfo jpgEncoder = GetEncoder(ImageFormat.Jpeg);

    // Create an Encoder object based on the GUID
    // for the Quality parameter category.
    System.Drawing.Imaging.Encoder myEncoder =
        System.Drawing.Imaging.Encoder.Quality;

    // Create an EncoderParameters object.
    // An EncoderParameters object has an array of EncoderParameter
    // objects. In this case, there is only one
    // EncoderParameter object in the array.
    EncoderParameters myEncoderParameters = new EncoderParameters(1);

    EncoderParameter myEncoderParameter = new EncoderParameter(myEncoder, 50L);
    myEncoderParameters.Param[0] = myEncoderParameter;
    bmp1.Save(@"c:\TestPhotoQualityFifty.jpg", jpgEncoder, myEncoderParameters);
}

private ImageCodecInfo GetEncoder(ImageFormat format)
{

    ImageCodecInfo[] codecs = ImageCodecInfo.GetImageDecoders();

    foreach (ImageCodecInfo codec in codecs)
    {
        if (codec.FormatID == format.Guid)
        {
            return codec;
        }
    }
    return null;
}